long or buy SKL/USDT
- SKL token rose more than 15% in the last 24 hours to $0.11. This comes on the heels of the announcement that Skale Labs will integrate with Polygon to help bring an Ethereum-compatible layer 2 solution to the network. More transactions and use of SKL can mean greater upside potential.
- Trading volume has soared over the past few days, with over $30 million in trades today alone. Such large volume is usually a bullish sign that big players are accumulating assets.
- Sklusdt is trading close to important resistance at the $0.12 level. A break above it could trigger another rally. Support is around $0.09, so risk is priced in.
Given the momentum and strong catalyst from the Polygon news, I think Sklusdt still has room in the short term. I want to enter a long position now with a stop loss at $0.09 support. Increase another purchase if we see a pullback to $0.10. Bulls could easily push it to $0.15 in a few weeks if volume continues.
